Can’t Afford a Single-Family Home? Buy a Townhouse or Condo

Do you want to join the ranks of homeownership? Are single-family homes beyond your reach due to escalating prices? Consider a townhome or a condo.

Why Buy a Condo on Oahu?

Owning a condo or townhome is a great way for you to bridge the gap between renting and owning. You can start building your equity by paying down your mortgage, which will allow you to trade up to a single-family home later.

Of course, after you’ve lived in a townhome or a condo for a while, you may just decide to stay put. After all, access to amenities like pools, private parks, clubhouses, and exercise rooms is pretty appealing. Plus, condo living frees up time. You won’t have to worry about mowing the lawn or painting your house. You can enjoy the benefits of homeownership without all the headache.

Are you a social person? Shared amenities create great opportunities to get to know your neighbors. If you are looking for ways to connect with people and for a sense of community, condo living might be right for you. I have many clients who live in townhome and condo communities. They gather together to play bridge, tennis, and racket ball. Some of my clients with children enjoy pool time with neighbors. They appreciate the welcome relief of having immediate playmates for their children close at hand.

There are lots of reasons for you to consider buying a condo or townhome — affordability, sociability, less maintenance, and the possibility of building equity. I’ve sold condos to many buyers over the years and I have watched them build equity and trade up to bigger and better properties over time. We all have to start somewhere and sometimes you have to go small to go big, especially when it comes to purchasing a home in Hawaii.

Oahu Condos for Sale

The good news is that on Oahu, you’ll have lots of choices. We have everything from three-story walk-ups to multi-million dollar luxury condos. Condos for sale on Oahu range in price from about $150,000 for a condotel in Ala Moana (MLS#202208850) to a $25,000,000 luxury unit in Kaka’ako (MLS#202125724). And.Everything.In.Between.

Check out this chart to see the number of new listings by price range:

Price Range                                            Number of Units

$149,999 and below                                      16

$150,000 – $299,999                                   83

$300,000 – $399,999                                104

$400,000 – $499,999                                 107

$500,000 – $599,999                                 113

$600,000 – $699,999                                 67

$700,000 – $999,999                                 121

$1,000,000 – $1,499,999                            35

$1,500,000 – $1,999,999                            21

$2,000,000 and above                                19

There are a lot of reasons for you to consider a condo or townhome purchase, but perhaps the best reason is simply because you’ll have so many more options — good options. And, that’s good news!